NorthWest Healthcare acquires 11 Australian hospitals for C$1.2b

Canada-based NorthWest Healthcare Properties REIT has acquired 11 high-quality Australian hospitals from Healthscope for C$1.2 billion ($895 million).

“This highly accretive transaction, which is expected to close in June, solidifies the REIT’s position as the dominant player in Australasian healthcare real estate and further strengthens ties with its joint venture partner,” said Paul Dalla Lana, CEO of the REIT.

The joint venture partner will acquire a 70 percent interest, with NorthWest retaining a 30 percent interest and providing management.

The REIT also acquired high-quality property acquisitions totaling C$150 million ($112 million) for its European platform, and the REIT completed a C$144 million ($107 million) equity financing, broadened its institutional investor base and was added to the S&P/TSX REIT Index.

“As we look forward, the opportunities in front of the REIT continue to grow as the trends of healthcare operator consolidation